Sabal Capital Provides $3.8M Loan For Bronx Multifamily Property

The property involved in this transaction is a multifamily asset located at 2408 & 2420 Webster Avenue, Bronx, NY. The loan for this property was secured through a permanent mortgage loan. The loan amount is $3,840,000 with a fixed interest rate of 3.99% for 10 years, with 3 years interest-only. The loan has a loan-to-value (LTV) ratio of 80% and is non-recourse. John Darrow, from Sabal Capital, served as the lender for this transaction.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,840,000
• Address: 2408 & 2420 Webster Avenue, Bronx, NY
• Interest Rate: 3.99% fixed for 10 years with 3 years interest-only
• LTV Ratio: 80%

The landlord of the property is Webster Ice, LLC, represented by Joseph Oved and Ezra Dweck. Brad Domenico from Progress Capital served as the broker in this transaction.